SpiceJet share price: The stock today jumped 4.22 per cent to hit a day high of Rs 40 over its previous close of Rs 38.38. The budget carrier, in an exchange filing said, it has complied with the directive of the Supreme Court by remitting $1.5 million to Credit Suisse. The payment was executed on September 14, it added.
SpiceJet share price: Today's sharp upward move in the share price came after the airline said it has obtained extension up to three months from the Registrar of Companies (RoC), under Section 96 of the Companies Act, 2013, for conducting the annual general meeting (AGM) for the financial year ended March 31, 2023 (FY23).
SpiceJet share price: SpiceJet also said that it would seek shareholders' approval for the re-appointment of Singh as managing director of the company for a period of three years with effect from May 21, 2023, and also approve his Rs 60 lakh monthly salary and a 2.50 per cent share in the airline's profit.
SpiceJet share price: On technical setup, the stock was last seen trading higher than the 5-day, 20- and 50-day moving averages but lower than the 100-day and 200-day moving averages. The counter's 14-day relative strength index (RSI) came at 56.82. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a negative price-to-earnings (P/E) ratio of 0.90 against a negative price-to-book (P/B) value of 0.30.
SpiceJet s promoter, Ajay Singh, has proposed an infusion of approximately Rs 500 crore to enhance the budget carrier s financial position. The fundraise, executed through equity share or convertible securities subscription, aims to address concerns over financial viability and receive additional credit facilities under the Emergency Credit Line Guarantee (ECLG) scheme., Companies News, Times Now